Tags: romney | economic | growth | plan

WSJ: Romney Needs to Explain How He Will Revive Growth

Wednesday, 29 Aug 2012 10:27 AM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Republican presidential nominee Mitt Romney needs to articulate a plan of his own for restoring economic growth beyond spending cuts, according to a Wall Street Journal editorial.

“Our view has long been that Republicans have the best chance of winning when they make the growth message their top priority,” the editorial states. “That's especially true this year. The Reaganites had it right: Rapid economic growth causes the deficit and debt to fall, not the other way around.”

Spending cuts or tax increases will do nothing to balance the budget without GDP growth of at least 3 percent, The Journal’s editors argue.

“Consider what would happen if economic growth increased today to what it would be in a normal economic expansion — about twice what Mr. Obama has delivered,” they write. “That return to prosperity would raise far more revenue for Uncle Sam than the panoply of Mr. Obama's planned estate, capital gains, dividend and income tax hikes.”

The Journal editors approve Romney’s plan to slash government spending to 20 percent of GDP and vice presidential candidate Paul Ryan’s Medicare reform plan.

“But none of this will be possible politically without the ballast of faster growth and rising incomes,” the editorial states. “And that is why Mr. Romney and the GOP need to resist what former Buffalo Congressman and supply-side evangelist Jack Kemp used to call ‘root canal’ Republicanism.”

Bottom line: “what they [Americans] need to hear from Republicans in this election campaign are specific pro-growth policies and a message of optimism that they know how to regain America's lost prosperity,” the editorial says.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Cop Killer's Commencement Address Angers Officer's Widow

Tuesday, 30 Sep 2014 23:17 PM

The decision to allow a man serving a life sentence for killing a police officer in 1981 to deliver a college commenceme . . .

Michelle Bachmann: 'Impossible' Obama Didn't Know About ISIS

Tuesday, 30 Sep 2014 21:21 PM

It is "absolutely impossible" President Barack Obama was unaware how powerful the Islamic State (ISIS) had become before . . .

Prosecutor: Okla. Beheading Suspect 'Didn't Like White People'

Tuesday, 30 Sep 2014 21:35 PM

An Oklahoma man who could face the death penalty for allegedly beheading a co-worker was suspended from his job after te . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved